$LINK, Retest Then Break…

30 באוג׳ 2018

Weekly
Looking at our trend timeframe we see price has recently broke out of its descending wedge pattern, stochastic rsi showing momentum was in favor of bulls currently at a temporary pause. LINK has found resistance at 5000, expecting a retracement towards 4200. Will be watching smaller timeframes for entries.


Daily
Shifting over to our pattern timeframe we see LINK has broke out of its descending wedge pattern, and is now looking to retest our horizontal and dynamic support at 4000. Stochastic RSI showing momentum in favor of bears with no signs of reversal. A daily close above 5000 activates our trade, however if rejected at this level expect a sell off towards 3000.